Caritas Christi Health Care, which runs six Catholic community hospitals in Massachusetts, making it the second-largest hospital group in the state, has agreed to be acquired by New York private equity firm Cerberus Capital Management. Hospital officials say that Cerberus--known as a "turnaround specialist" in financial circles--will help pull the system out of debt and make major improvements, reports the Boston Globe.
The $830 million deal, if approved by the state and the Catholic Archdiocese of Boston, will make history as the largest switch of hospital assets from nonprofit to for-profit status in Massachusetts
I'm sure this makes good business sense but I'm wondering how this helps the people of Massachusetts?
I suspect that some feel comfortable in such institutional care settings, but I also suspect that more and more people are looking for care in practices that treat them as people, not transactions.